Lumber Liquidators Holdings Inc. said Monday a "60 Minutes" report alleging that Chinese-made laminated flooring it has installed in many American homes contain higher-than-accepted levels of a known carcinogenic was based on an improper test method. In a filing with the Securities and Exchange Commission responding to the program, the hardwood floor retailer said it is fully compliant with California standards and has documentation to support every step of its production process. "Our laminate floors are completely safe to use as intended," the filing said. Founder and Chairman Tom Sullivan outlined the issues with the "60 Minutes" testing methods, but the program chose not to include it, said the filing. The company was also unable to identify Chinese suppliers who admitted on camera that the product supplied to Lumber Liquidators does not meet California standards. "As 60 Minutes noted, these attacks are driven by a small group of short-selling investors who are working together for the purpose of making money by lowering our stock price," the company said. Shares resumed trading down 24% on heavy volume, after being halted for the regulatory filing to be published.
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